EURASIAN NATURAL RESOURCES CORPORATION PLC (ENRC, United Kingdom) announced its subsidiary ENRC Congo BV acquired 50.5% of shares of Camrose Resources Limited
/KASE, August 27, 10/ - EURASIAN NATURAL RESOURCES CORPORATION PLC (London), shares which are listed on Kazakhstan Stock Exchange (KASE), provided to KASE the following pres release of August 20, 2010:
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London - Eurasian Natural Resources Corporation PLC ('ENRC', or together with its subsidiaries, the 'Group') announced today that its wholly owned subsidiary ENRC Congo BV, has privately purchased 50.5% of the outstanding common shares of Camrose Resources Limited ('Camrose'). The Camrose shares have been purchased from Silvertide Global Limited, Zanette Limited and Cerida Global Limited ('Cerida') which are held by the Gertler Family Trust (the Acquisition').
Camrose's assets are high quality copper and cobalt exploitation licences located in the DRC.
The consideration for the Acquisition is US$175 million. ENRC has paid US$50 million in cash and issued promissory notes totalling US$125 million which mature between 9 months and 24 months.
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The press release full version is available on KASE website at
[2010-08-27]